Selling your business is probably one of the biggest decisions you will ever make, even if it is to channel your efforts to another venture. You have spend a lot of time and possibly money on your business and letting go might not be as easy as you think. Remember there is a big difference between selling a business and simply getting rid of it. Buying a business should be one of at least three options to consider.
You need to you continue running the business as if you were not intending to ever sell. Continue with your marketing, staff training and networking with customers and suppliers, as soon as you start relaxing or indicating that you are no longer actively promoting your business you are doing more damage than you know.
The right business broker can be a great asset when you are selling your business but the wrong broker can do far more damage so it is of utmost important to make sure that u list with not just a reputable broker but it also needs to be a broker that suits and your unique needs.
It is very easy to put a value to a business and most business mediators will do so in a instance. This valuation is not worth much if you can’t show a potential buyer how you got to this figure. Its true that your broker can perform the valuation but it would just be so much more credible if done by a independent party.
Like anything else in life all these decision has pro and cons and these depends on each individual.